PulteGroup Q3 EPS $2.69 (+48%), revenue $3.8B (+16%) but new orders down 28%; COO succession

PULTEGROUP INC/MI/

2022-Q3 EPS reported $7.22 revenue$11,057,617,000

Q3 EPS of $2.69 (+48% YoY); net income $628M; home sale revenues $3.8B (+16%).
Homebuilding gross margin 30.1% (+360 bps); SG&A 9.1% of revenues (down from 9.6%).
Net new orders 4,924 homes (-28% YoY); cancelation rate 24% (up from 10% prior year).
Wrote off $24M in land deposits after terminating underperforming options; debt-to-capital 22.5%.
COO John Chadwick to retire Apr 2023; Brandon Jones promoted to EVP/COO effective Jan 1, 2023.

item 2.02 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Brandon Jones

Executive Vice President and Chief Operating Officer

PHM · PULTEGROUP INC/MI/

Effective: 2023-01-01
Filed: October 25, 2022, 7:59 PM ET

Brandon Jones has been promoted to Executive Vice President and Chief Operating Officer, effective January 1, 2023.

Departed

John J. Chadwick

Executive Vice President and Chief Operating Officer

PHM · PULTEGROUP INC/MI/

Effective: 2023-04-21
Successor: Brandon Jones
Filed: October 25, 2022, 7:59 PM ET

John J. Chadwick notified the Company that he intends to retire as Executive Vice President and Chief Operating Officer of the Company, with his last date of employment being April 21, 2023.

Role change

John J. Chadwick

Executive Vice President

PHM · PULTEGROUP INC/MI/

Effective: 2023-01-01
Filed: October 25, 2022, 7:59 PM ET

Effective January 1, 2023 through the date of his retirement, Mr. Chadwick will serve as Executive Vice President.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Brandon Jones was appointed as Executive Vice President and Chief Operating Officer at PULTEGROUP INC/MI/.

Action: promoted
Role: Executive Vice President and Chief Operating Officer

Exact text from the filing

Brandon Jones has been promoted to Executive Vice President and Chief Operating Officer, effective January 1, 2023.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

John J. Chadwick departed as Executive Vice President and Chief Operating Officer at PULTEGROUP INC/MI/.

Action: retire
Role: Executive Vice President and Chief Operating Officer

Exact text from the filing

John J. Chadwick notified the Company that he intends to retire as Executive Vice President and Chief Operating Officer of the Company, with his last date of employment being April 21, 2023.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

John J. Chadwick changed role as Executive Vice President at PULTEGROUP INC/MI/.

Action: transitioned
Role: Executive Vice President

Exact text from the filing

Effective January 1, 2023 through the date of his retirement, Mr. Chadwick will serve as Executive Vice President.

View on SEC.gov

PULTEGROUP INC/MI/ filing history →

Source: SEC EDGAR

accession 0000822416-22-000048

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